Coca-Cola (NYSE: KO) will report its Q3 2023 results on Tuesday, October 24. We expect the company’s revenues to come in at $11.5 billion, marginally above the consensus estimate of $11.4 billion. This would mark year-over-year growth of about 9%. Earnings will likely come in at about $0.70 on a per-share and adjusted basis, slightly above the consensus estimate of $0.69. See our interactive dashboard analysis on Coca-Cola Earnings Preview for more details on how the company’s revenues and earnings will likely trend for the quarter. So, what are some of the trends that are likely to drive Coca-Cola’s
KO
KO stock has seen little change, moving slightly from levels of $55 in early January 2021 to around $55 now, vs. an increase of about 15% for the S&P 500 over this roughly 3-year period. Overall, the performance of KO stock with respect to the index has been quite volatile. Returns for the stock were 8% in 2021, 7% in 2022, and -15% in 2023. In comparison, returns for the S&P 500 have been 27% in 2021, -19% in 2022, and 12% in 2023 – indicating that KO underperformed the S&P in 2021 and 2023.
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